(Alliance News) - Sunrise Resources PLC on Thursday said it revisited its high grade zinc sample site at its Reese Ridge project in Nevada, US, after previously recording 15.9% of high-grade zinc content.
The Cheshire, England-based company focusing on the development of its three key Nevada-based industrial mineral projects said the field visit was made to follow up on a company reconnaissance mapping sample that had yielded unexpectedly high.
The original sample site has now yielded two additional grab samples upon being revisited. Sample number 52303 showed 13.6% of zinc, 12.8% of lead and 146 parts per million of silver. Meanwhile, sample number 52304 showed 29.6% of zinc, 0.3% of lead and 7 parts per million of silver.
Sunrise Resources said the samples occurred within a larger altered area containing widespread zinc-lead-silver values.
It also noted defining a low resistivity zone during historical geothermal exploration programme and that this was a priority drill target.
Sunrise Resources added that the geological setting and mineralogical evaluation of the samples suggest a carbonate replacement deposit style of base-precious metal mineralisation.
"CRD deposits can be large and high-grade as seen in the Taylor (Hermosa) deposit in neighbouring Arizona which was purchased by South 32 for USD1.6 billion in 2018 and is now under development," Sunrise Resources said.
Executive Chair Patrick Cheetham added: "As with the original reconnaissance sample, the high zinc values in these new rock samples came as a very pleasant surprise. We believe the zinc occurs in these samples as secondary minerals, formed from weathering of zinc sulphides.
"These secondary zinc minerals are visually unremarkable and difficult to distinguish from the host rock, even for experienced mineralogists. These very high zinc grades could have been easily missed by earlier prospectors and explorers.
"The Reese Ridge project is now emerging as an exciting target for zinc-lead silver mineralisation and has many of the characteristics of a CRD deposit and, as such, presents a very attractive exploration target."
Shares in Sunrise Resources were up 0.6% to 0.091 pence each in London on Thursday at midday.
By Greg Rosenvinge, Alliance News reporter
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Sunrise Res (SRES)